India, Feb. 2 -- Union finance minister Nirmala Sitharaman on Saturday announced a Rs.15,000 crore SWAMIH 2.0 fund as part of her budget speech to address the looming issue of stressed housing projects. The SWAMIH (special window for affordable and mid-income housing) fund was first introduced in the 2019 budget to provide priority debt financing for completing stressed, brownfield and Real Estate Regulatory Authority (Rera)-registered residential projects falling in the affordable, mid-income housing category.

"Fifty thousand dwelling units in stressed housing projects have been completed, and keys handed over to homebuyers. Another 40,000 units will be completed in 2025, further helping middle-class families who were paying EMIs on loa...